Another "Gem" from WSJ...

WSJ should really refrain from trying to do any economic analysis of their own. This article claims bank lending keeps dropping, because February loan figures are lower that January ones by 4%, and October ones by 20%. Now, I am not going to dispute that bank lending is dropping - Thank God it is, American consumer needs to delever! But how can you look at February figures - the month, eh, has 10% less days than January? The data in the article is completely meaningless.